A Note on DAOstack Security in Light of the DXdao

As you may have heard by now, the DXdao, a DAO built on our framework, has raised $1 MM and counting through a decentralized fundraising mechanism. Having launched just a couple of weeks ago, the level of fundraising success so far is impressive. We’re extremely excited to see this level of interest and commitment coming to a project built on our infrastructure, but we feel it’s our responsibility to remind everyone of the lack of security guarantees.

The bottom line is this: the DAOstack software is still experimental. We cannot guarantee the safety of any funds stored in DAOstack DAOs. Please be careful and aware of the risks!

Though the DAOstack contracts have been audited, bugs allowing a past hack have been fixed, and the DXdao contracts themselves passed through a bug bounty unscathed, the software should still not be considered completely secure.

Since the DXdao’s fundraising success, we have put an increased focus on security and expect to make further improvements, possibly including further audits, guidance on how to set more secure governance parameters, new global constraints that can be added to DAOs, and more.

This stress test is an important step on the path to more stable and usable DAOs, and we’re excited to see what’s next.